LuLu Group, a UAE-based conglomerate active in retail, manufacturing and trade, has acquired the original Scotland Yard headquarters in London for $170 million.

According to the Guardian, the original Scotland Yard police station is to be turned into a new five-star luxury London hotel with rooms costing up to £10,000 a night. LuLu Group International is a diversified entity, with interests in retail, imports & exports, trading, shipping, IT, travel and education.